Home Buying in Orlando>Question Details

Eleni Aspras, Home Buyer in Maitland, FL

Can we loose our house that is under contract due to the bank that owns it went bankrupt?

Asked by Eleni Aspras, Maitland, FL Sat Jul 20, 2013

We are under contract on a forclosed house in Florida. We are purchasing it in cash. Our closing date has been pushed back 3 times because they found a lien on the house and they do not want to pay $18,000. We signed our papers and that has nothing to do with us. But now a new bank has our house because the other one went bankrupt suddenly. Can we loose this house now even though the last contract signed with the previous bank said that they would take care of the lien and they would be closing no matter what on august 9?

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Get a real estate attorney involved, as REALTORs we can not give legal advice or opinions.

Elevate your expectations,

Vincent Paige |REALTOR® | RE/MAX Showcase
Certified Broker Price Opinion Registered Agent (BPOR)
8934 Conroy Windermere Road | Orlando, FL 32835
Direct: 407.256.8190 | Fax: 407.264.8073
E-mail: vince@thepremiumproperties.com
0 votes Thank Flag Link Wed Jul 24, 2013
Hi Eleni,

This question is very specific regarding the performance of the contact. I would recommend you to speak with an attorney specialized in Real Estate especially if the agents and title company does not have a positive and quick reply from the new bank. The new bank may decide to sell or not the property, each bank is different.

Good Luck.
0 votes Thank Flag Link Sun Jul 21, 2013
How would you propose to have a valid Contract with a company that does not exist?
0 votes Thank Flag Link Sat Jul 20, 2013
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